Entrp. History Final
Whites often justified slavery by saying Africans had no history of business. Which of the following statements would disprove that assumption? (Mark all that apply.)
-The interconnection of local, regional and international markets in West and West Central Africa. The presence of large trading organizations such as the Akani and the Asante The prevalence of mutual aid societies, savings organizations, and cooperative work associations. The reality that most communities and families were subsistence farmers only
What % of FHA loans went to White Americans in the period from 1934 - 1968?
98%
This doctor in Durham helped found North Carolina Mutual, one of the largest Black businesses in the history of the country.
A. Moore
Within precolonial Africa, who had the most control over the slave trade?
African nations and trading organizations
In Walker's story of Colonial America, we see free Blacks performing all occupations EXCEPT
Attorney
What was the impact of the 1906 Race Riot on Atlanta? (Mark all that apply.) (2.5/5)
Black businesses began to self-segregate on Auburn Ave and Hunter St for protection. Atlanta developed a culture of Black and White leaders meeting to head off racial unrest. Black business people decided to push their way onto Peachtree Street as a sign of rebellion. Macon became the center of Black Business in Georgia
What were some of the ways that Blacks did manage to participate in Business during the Civil War? (Mark all that apply.) 3.35
By knowing how to cook with scraps since so little food was around. By serving as a buffer between the Union and Confederate populations, like in prisons, etc. By doing jobs others did not want to do like to do, like burying the many casualties.
In essence, the New Deal programs tried to revive the economy by doing what two things?
Direct payments and loosened credit
Butler writes that a majority community often reacts with supportive endeavors when they see the economic success of a minority community in their midst,as they recognize the success of any element of the community is good for all.
False
In general, the White community was not concerned about the economic activities of free Blacks.
False
In terms of deposits, the Freedman's Bank never showed signs of success.
False
Slave entrepreneurs were more common than intrapreneurs as the owners did not want to be bothered.
False
The Black business section of Tulsa was never rebuilt.
False
The US was so outraged at the corruption in the Freedman's Bank that it sentenced the leaders to long prison terms.
False
According to Du Bois's typology, the Black florist, after the Civil War, was a direct descendant of the
Field-hand
The Black neighborhood in Tulsa was known as
Greenwood
The Black neighborhood in Durham was known as
Hayti
One Black businessman who was successful in Atlanta by acting as an intermediary between Confederate citizens and Union prisoners was
Henry Boyd
According to Du Bois's typology, the Black barber, after the Civil War, was a direct descendant of the
House-servant
A slave __________ essentially managed the business of the owner and was granted decision making authority.
Intrapreneur
What factors made Durham special as an economic enclave for Black businesses? (Mark all that apply)
It had a significant Black working population, many working in local tobacco and textile factories. This means there was a sufficient economic base for Black businesses Relatively, Durham possessed a more tolerant White community and a more accommodating Black community. White leaders were of the "live and let live" opinion and Black leaders pushed for change more slowly. Durham was not an old established community, like Charleston or New Orleans. This means the culture was more innovative and entrepreneurs did not have to fight the "old order" both White and Black.
This gentleman was the first Black CPA in the Deep South, the first Black person to own a radio station, and a noted educator and entrepeneur.
J. B. Blayton
In precolonial Africa, artisans often specialized in
Metalware Textiles Woodworking Pottery
What were some other discriminatory practices in the New Deal programs? (Mark all that apply)
Minimum wage laws did not cover farmers or domestic workers, which covered most Black people in the South. Social Security, at the beginning, did not cover farmers or domestic workers, which covered most Black people in the South. The labor relations laws governing unions failed to protect Black people
An Atlanta company that sought to have racial harmony in Atlanta during the Civil Rights as a means of preserving their international brand.
NOT Georgia Pacific
One area where Black people did seem to prosper during the Civil War was
NOT Northeastern Cities
The city, Atlanta, has always been focused around
NOT TEXTILES
What made New Orleans a hub for free Black businesses? (Mark all that apply.)
New Orleans, compared to other cities, was a greater mix of cultures (Spanish, French, English, etc.) making it more tolerant. New Orleans had a distinct class (Creole) of mixed and free Blacks that had more freedom than other cities.
During the War, a sutler...
Ran a small store on an army post selling non-army issued items to the soldiers and neighboring community.
When a slave entrepreneur made money, what got paid first?
Reimbursing the owner for their own time
This gentleman worked hard in Philadelphia to advance the cause of Black people, including one of the first Mutual Aid societies. He eventually founded the AME church.
Richard Allen
Briefly, what were some of the differences between Tulsa and Durham?
Some differences between Tulsa and Durham is that their was less ethnic tension. Tulsa did not only have tension between blacks and whites but between whites as well as it was a strong community of the KKK and anti-catholism, compared to Durham, the blacks and whites got along much better. It was also more accommdationable. In Durham their were many black businesses and banks that were in the middle of the white communities and vice versa compared to in Tulsa, the blacks had to have a seperate place to live and for their businesses to be located and vice versa, they're were no intermingling between the two groups.
What examples show that Tulsa was already a place of racial and ethnic tensions even before the massacre? (Mark all that apply.)
The Klan had fought unsuccessfully to have Catholic teachers fired from the school system (and the Catholics would have been primarily Irish). Tulsa's Black residents later reported getting flyers at their houses telling them to sell and leave town. Many social organizations in Tulsa had begun to reject Jewish members. The Ku Klux Klan had a large presence in Tulsa in the years leading up to the massacre.
One area where slave women dominated was
The retail produce distribution market
Although Whites and Blacks participated in sharecropping, it was easier to take advantage of Black sharecroppers due to the legal system and local cultures.
True
Historically, we have seen the majority population try to blame the Black community for their struggles rather than accept the impact of discriminatory structures.
True
In general, the provision grounds produced just enough for a slave(s) to supplement their diet.
True
Mayor Maynard Jackson forced the majority business community to include Black businesses using set-asides
True
Sharecropping was an exclusively Black phenomenon.
True
Slave women's highest priority was buying the freedom of their children.
True
The Community Reinvestment Act (CRA) required banks to pursue loans to the disadvantaged communities.
True
While an individual could lose access to a piece of land through debt (foreclosure), the land could never be permanently alienated from the community.
True
What did Merah Stuart (the researcher) mean by the term "economic detour"?
Unlike other minority groups, the Black community was often legally prevented from offering services to the majority community.
(Washington/Du Bois) served as President of Tuskegee Institute for 30+ years.
Washington
A slave _________ hired their own time from the owner and ran a sole propietorship.
entrepreneur
Despite it's failure, at least the Freedman's Bank hired many Black people and taught them the basics of banking.
false
The Black business section of Tulsa was never rebuilt.
false
Booker T. Washington
founded the National Negro Business League in 1900 emphasized industrial education over a liberal arts one, emphasizing a self-reliant perspective over an intellectual one. spoke in Atlanta in 1895 where he said, in essence, Black people would not push for civil rights if they were left alone to build up their own economic success, known as the "Atlanta Compromise".
Other than racism, what were some reasons free Blacks were facing a serious economic environment in the Civil War. These include which of the following (mark all that apply):
ndustrialization in the North reduced the need for the skilled labor (the artisans and craftsman that were the biggest group among free Blacks). The government contracts went to large scale entities; essentially no Black people owned entities were that large. A large spike in immigration increased the competition among unskilled labor so free Blacks struggled to downgrade to those jobs.
The Tulsa massacre essentially happened....
over one night.
W. E. B. Du Bois (mark all that apply) (.35/1)
served as editor for many years of The Crisis, the newspaper of the NAACP engaged in rigorous research exploring the condition of Black people supported industrial education as opposed to a more intellectual education such as a liberal arts.
Banks give use to capital by (mark all that apply)
taking the money that is deposited and lending it to others, making even more money from the interest paid. ensuring that the money they do lend is to good credit risks that will pay the money back.
5 out of 5 points In his address "The Meaning of Business", John Hope said
that Black people should support Black businesses even if there was a slight disadvantage. that the influx of White laborers was driving Black people out of jobs. that Black people had to earn and build capital in order to have power in the community. that given a choice (in 1899), a White person will always hire a White person over a Black person if given a choice.
In his address "The Meaning of Business", John Hope said
that given a choice (in 1899), a White person will always hire a White person over a Black person if given a choice. that Black people had to earn and build capital in order to have power in the community. that the influx of White laborers was driving Black people out of jobs. that Black people should support Black businesses even if there was a slight disadvantage.
5 out of 5 points Black men and women did some business opportunities during the Civil War by working with the military in their prisons, interacting with the prisoners on both sides of the conflict.
true
The alliance between the Black church and Black banks
was positive in that the approval of the church gave legitimacy to the bank and helped people to trust them was negative in that the banks would struggle to foreclose on a church member that had not paid their bills. was positive in that banks had a steady supply of customers and deposits. was negative in that members of the Black church often expected special consideration from the bank in terms of loans
What was the advantage of being a Black artisan or craftsman, compared to say a planter or shopkeeper?
Also a disadvantage to the slave owner, but an advantage to the slaves as they were more likely to run away.
The following reasons contributed to the rise of racism as the Civil War approached and during the War. (Mark all that apply)
As abolitionist sentiment increased, the South was afraid of rebellion and began to crack down on the movements of slaves and free Blacks. If Blacks were freed, this would actually increase competition for labor. Whites resented economic competition with Blacks as they expected some privilege just for being White. Some poor Whites resented having to fight for and lose family members just to free slaves (particularly as many may not have known any Black people). Whites resented Blacks for being high ranking among the military forces.
What were some of the ways that Blacks did manage to participate in Business during the Civil War? (Mark all that apply.) (1.34/2)
By doing jobs others did not want to do like to do, like burying the many casualties. By serving as a buffer between the Union and Confederate populations, like in prisons, etc. By knowing how to cook with scraps since so little food was around.
Why might a slave owner trust a slave to manage their business? (Mark all that apply)
Cheaper - a slave did not get wages or much lower wages than a free person. Expertise - a slave often knew the operations better than a stranger brought in to manage things Incentive - a slave would work harder if they were given responsibility and a share of the profits.
(Washington/Du Bois) believed in the concept of the "talented tenth", that you should train the brightest members of the race to be leaders that would then work to uplift the masses.
Du Bois
(Washington/Du Bois) was the first Black man to get a Ph.D. from Harvard University and taught at Atlanta University for many years.
Du Bois
Major banks, like Wells Fargo, worked diligently to protect Black consumers from subprime loans.
False
Slaves only had access to food provided by their owners.
False
Walker estimates that maybe 30% or less of plantations had Black overseers/drivers.
False
What reasons might explain why free Blacks were willing to own slaves? (Check all that apply)
It would have been an economic necessity. How could free Blacks compete with Whites, who had access to this cheap labor source. Since manumission laws often required a freed slave to leave the state, it allowed familial and cultural ties to be maintained.
This Black entrepreneur, who managed a large trading post on Lake Michigan and is now recognized as a Founder of Chicago. was
Jean Baptiste Point DuSable
A former barber who was a leading Black businessman in Durham, helping to found North Carolina Mutual and Merchant & Farmer's Bank among others.
John Merrick
The Civil Rights Act
Required companies to have a certain % of Black suppliers and vendors. Increased the market for Black businesses as now they could legally compete anywhere. Banned discrimination in public accommodations
Describe how the communal land structure worked in pre-Colonial Africa.
Response Feedback: entire cycle was started all over again and a community would never lose that land.
Which of the following African survivalisms were transplanted to the US? (Mark all that apply.)
Rice cultivation Open grazing of cattle Plow agriculture (as opposed to Hoe) Extractive Technologies (mining and smelting)
One Black businessman who was successful in Atlanta by acting as an intermediary between Confederate citizens and Union prisoners was
Robert Webster
This Black Entrepreneur was one of the most well-known restaurateurs in Colonial Ameica, owning and operating a prosperous "whites-only" institution.
Samuel "Black Sam" Fraunces
What were some of the effects of the FHA's discriminatory practices?
Selected Answers: Black people had less equity in their homes to start business, get an education, etc. Black people had higher interest rates and down payments reducing their wealth further. Given Black neighborhoods had lower values, property taxes were lower and schools, parks, etc. had less resourcesl. Correct Answers:
The ________ were really the first cowboys in the Americas.
Senegambians
What was some of the impacts of the Freedman Bank's failure on the Black Business community
Some of the impacts of the Freedman's bank is that more than the money was lost of trust, it took decades for blacks to trust the banks again,which is why most black people didnt' invest their money or let their money grow. It really hurt the black community, more than it would've hurt the black community if slavery went on for 10 more years.
The following components are needed for an insurance firm to successfully operate.
Statistical analysis (by actuaries) to show the likelihood of a payout for each claim A robust investment strategy so that the fees paid will grow to be sufficient for payouts. Sufficient fees to be paid on each claim given the likelihood of a payout
Maynard Jackson was a leader in promoting Black involvement in economic endeavors, forcing the city to include more Black entrepreneurs.
TRUE
Why did the 2008 financial crisis have such a disparate effect on Black wealth?
The crisis primarily hit housing values which is the basis of most family wealth. Black communities had less wealth before the crisis and therefore had less cushion. Many Black customers had been steered into subprime loans making them more at risk. Black housing values are often lower so the dip was harder on them
How did Malcolm X and the Black Panther Party's emphasis on economic nationalism, in hindsight, also turn out to be a hindrance.
The gov't used this emphasis as a way to justify a hands-off approach to the Black community. "Sure we'll let you manage your own affairs and that means no help from us." It emphasized a push toward Black Capitalism but did not include the resources necessary to make that work. The Black economic market, beginning with a tremendous deficit, could not simply build it's way up without access to the larger majority market and with no assistance. It encouraged people to move back to Africa which devastated the Black market.
Define and explain the "head rights" system. How did it affect free Blacks in the Colonial period?
The head rights system was a system that was when a free person (White or Black) paid the rights for a slave or indentured servant to come to America, that free person would receive additional land. Usually for every one person brought over you received 50 acres of land. This system was set in place so the colonies could expand and build. People would take advantage of this system especially black people because it helped them tremendously. One major reason is that land and property are wealth, so when a freed black person would take advantage of the system he was able to add to his wealth by adding to his land. Also, the freed Blacks also had paid for slaves to work for them to make a profit. So blacks owned wealth through property and through slaves.
What are the reasons why slave women had a harder time than men at creating or managing a business? (Mark all that apply.)
They were more easily abused and exploited. They were restricted to gender-specific roles (cooking, sewing, cleaning, healthcare, etc.) They also had to take care of children.
Black craftsmen represented a significant portion of runaway slaves, in part because they had the skill set to be economically independent in a new area.
True
Comparatively, Atlanta had a more peaceful Civil Rights period than many other cities.
True
Even with all of its success, Durham still had a class system among the Black community with an educated, wealthier elite and the poorer masses alongside.
True
Insurance firms operate by gathering sufficient funds and investing them wisely to allow the payment of claims.
True
Most Black craftsmen and artisans learned their skills through apprenticeship, either formal or informal, to either White or Black artisans.
True
Most slave men would prioritize buying their wife's freedom since a child born to a free woman was free.
True
One lesson we can gather from Black craftsmen and artisans is that possessing expertise (a unique skill set) gives a person more leverage.
True
The New Deal emphasized community banking over national banking but this hurt Black banks as it kept them out of the support network they could have used.
True
Throughout the Colonial and slavery periods in America, economic opportunities for Blacks were tied to property ownership.
True
Traditional African cultures discouraged the pursuit of wealth.
True
The two biggest achievements of the Civil Rights era were
Voting Rights Act and Civil Rights Act
Briefly describe the different philosophies of W. E. B. Du Bois and Booker T. Washington.
W. E. B. Du Bois was born a free man and received his PhD, From Harvard becoming the first black man to do that. Du Bois was an intellectual and wanted the church to be at the center of the Civil Rights movement. He challenged the idea of white supremacy and believed in a black God and such more radical ideas. He was an Activist for black people and started the NAACP and the Niagara Movement. Compared to Booker T. Washington, he was born a slave, and self-taught himself and ended up receiving his degree from Tuskegee University. Washington accepted the idea of disenfranchisement and social segregation in exchange for the idea of black economic progress. Washington was much more liked by white counterparts compared to Du Boise as Washington was asked to speak at cotton states expos. He was less extreme as Du Bois and believed that black men and women should pull themselves up by their bootstraps as he did, which is a reason why many of the black community saw him as 2 faced. He also started the national Negro League. Both Washington and Du Bois where two extremes and didn't share the ideal of philosophies, they both wanted and achieved giving more civil rights to black people.
The government's head-rights system
Was used by the government to encourage settlement of the frontier A person could receive land for paying the cost of transporting a new slave or servant. Depended on the # of children you had.
(Washington/Du Bois) believed that hard work and business success would naturally generate respect for the Black man from his White neighbors.
Washington
Dead capital is (are) (mark all that apply.)
assets from which you cannot tap into their real value. asset like "heirs property", land with no clear title and therefore cannot be leveraged. assets that are not being used in any way
Booker T. Washington
emphasized industrial education over a liberal arts one, emphasizing a self-reliant perspective over an intellectual one. founded the National Negro Business League in 1900 spoke in Atlanta in 1895 where he said, in essence, Black people would not push for civil rights if they were left alone to build up their own economic success, known as the "Atlanta Compromise".
The Freedman's Bank was a "savings" bank, as opposed to a regular bank. This means (mark all that apply)
it was hobbled from the start in terms of truly help Black people achieve economic independence. it served as a glorified piggy bank. the money deposited was simply held as savings and not used for investing. the bank was not meant to make loans to help Black people build businesses or buy homes.
In the immediate aftermath of the massacre, the investigation
placed the blame on Black "troublemakers" who instigated the violence.
When sharecropping, a person (mark all that apply)
planted and harvested crops on someone else's land took a share of the profits once the season was over, with the remainder going to the owner. often owed the owner for the original seed, any equipment and some living expenses that had to be taken out of final profits first.
Banks give use to capital by (mark all that apply) (3.75)
taking the money that is deposited and lending it to others, making even more money from the interest paid. using the money deposited to advertise for more money. ensuring that the money they do lend is to good credit risks that will pay the money back.
After the War, freed slaves saw freedom as ________, while Whites interpreted freedom as _________. (Only one answer)
the ability to control their economic destiny/the ability to be paid for picking cotton
The Freedman's Bank was a "savings" bank, as opposed to a regular bank. This means (mark all that apply) (3.75/5)
the money deposited was simply held as savings and not used for investing. it was hobbled from the start in terms of truly help Black people achieve economic independence. it served as a glorified piggy bank.
When sharecropping, a person (mark all that apply)
took a share of the profits once the season was over, with the remainder going to the owner. planted and harvested crops on someone else's land often owed the owner for the original seed, any equipment and some living expenses that had to be taken out of final profits first.
Black men and women did some business opportunities during the Civil War by working with the military in their prisons, interacting with the prisoners on both sides of the conflict.
true
Malcolm X and the Black Panther Party pushed for economic nationalism, or separate Black economies, essentially Black communities should be responsible for themselves.
true
n traditional African societies, women maintained the home and worked in the gardens but did not participate in economic activity, such as markets and trading.
true
The alliance between the Black church and Black banks
was negative in that members of the Black church often expected special consideration from the bank in terms of loans was negative in that the banks would struggle to foreclose on a church member that had not paid their bills. was positive in that banks had a steady supply of customers and deposits. was positive in that the approval of the church gave legitimacy to the bank and helped people to trust them
A Mutual Aid/Benevolent Society..
were the earliest forms of insurance and banking for Black Americans. used all of the advanced statistical techniques of an insurance firm operated by pooling deposits from their members to be distributed when one was ill, to pay for funeral expenses, or to care for widows/children.